Barratt Redrow chief executive to step down after 11 years

(Sharecast News) - Barratt Redrow's long-standing chief executive is to step down after more than a decade, the housebuilder announced on Wednesday. David Thomas, 63, who was appointed chief executive in 2015, will retire after 17 years with the blue chip.

He will be replaced by Dean Banks, the current chief executive of Australian infrastructure services provider Ventia. Banks, who has also held senior roles at Balfour Beatty and De La Rue, will return to the UK to take up the role at the end of the year, ahead of Thomas leaving in March 2027.

Caroline Silver, chair, said Banks brought with him "strong experience" as well as deep knowledge of the construction and infrastructure sectors.

"We are confident that Dean's focus on disciplined execution, operational excellence and strong relationships with customers and stakeholders will help Barratt Redrow build on its strengths over the long term."

Banks said: "Barratt Redrow is an exceptional UK homebuilder, leading the industry in quality, service and sustainability, with a strong platform for the future.

"I look forward to working with the board and wider team to build on this strong foundation."

Thomas, who led Barratt's blockbuster £2.5bn acquisition of Redrow in 2024, said: "I am incredibly proud of what we have achieved over the last eleven years. We have built a strong, disciplined and customer-focused business, delivering real returns for shareholders."